Because the foundation already was poured for the new building years ago when a second office tower was planned, the new tower can be built in as little as 20 months, giving Mizrachi's plan an advantage over some competitors, [J.F. McKinney & Associates Executive Vice President Mark] Gunderson said. Work could begin with as little as 200,000 square feet of office space leased in advance, he said.

It also might compete by offering office rents slightly lower than its neighbors, which include 52 and 53 story towers from developers Hines Interests and John O'Donnell.